You've received some good information thus far and I want to add to it. I've listed several properties in New Colony Village. During 2005, New Colony Village "Closing" prices ranged from $193,000 - $395,000. Property Days On Market (DOM) ranged from 0 - 106.

Property that is currently Active or Under Contract in New Colony Village appears to range from $199,900 - $267,000.

If I can be of further assistance to you, please contact me and I'll be glad to provide additional help.

Barbara

The homes were subject to ground rent. Many homeowners redeemed the ground rent and thus the homes became fee simple and more valuable. Let me knoe if I can help you further.

Kim, I;m not sure where you're seeing the $72,000 numbers. These were selling in the $200,000-$375,000 range at the height. A major change is that, originally, these owners didn't own the lots, only the house. Effectively, it classified them as mobile homes and, in Maryland, the houses weren't real estate -- they were considered vehicles! So the only way to finance them was a special, and very expensive, loan offered by onlly one or 2 lenders. And each owner paid about $400 per month to rent the land. The county changed the zoning so the owners could purchase the land, and the values improved. Now, because of forclosures in the area, the values have dropped. Beyond that, it's a case-by-care basis.

These homes were selling in 2005 for anywhere from $195,000 to $380,000, with an average of $310,000. There are bargains galore there now.
Alan
(443) 789-6712